Bicycle Therapeutics reports Q2 EPS ($1.41), consensus ($1.29)

Reports Q2 revenue $11.40M, consensus $4.58M. Cash and cash equivalents were $340.4M as of June 30, compared to $339.2Mas of December 31, 2022. “We have made significant progress in the first half of 2023 executing on our plan to become one of the world’s leading solid tumor medicines companies,” said Kevin Lee, CEO of Bicycle Therapeutics. “Not only have we continued to advance our three clinical trial candidates – BT5528, BT8009 and BT7480 – but we have also entered into multiple research and development collaborations with pioneers in the radiopharmaceutical space to develop Bicycle radio-conjugates, or BRCs. These collaborations enable us to advance a broad pipeline of partnered and wholly owned BRCs that represents the third pillar of our oncology strategy beyond our Bicycle toxin conjugate and Bicycle tumor-targeted immune cell agonist programs. Our clinical programs remain on track for us to provide updates in the second half of 2023. Additionally, we are excited to welcome Alethia Young, our new CFO, who brings over 20 years of experience in the healthcare and biotech industry to Bicycle. The advancement of our programs and platform in oncology and beyond are supported by a strong balance sheet that has been further enhanced by the recent proceeds from a public equity offering completed in July.”